American’s rationale for its agreement with Horton is similar to the rationale that is often given for including golden parachute provisions in agreements between top executives and companies entered into at the outset of the employment relationship. Companies contend that it is in their interest that the judgment of their top executives not be clouded by their own self-interest when merger and acquisition partners come knocking. If a golden parachute assures the CEO of a soft landing at the conclusion of any company takeover, then the CEO will prioritize shareholders’ interests when evaluating a deal that may put the CEO out of a job. Of course, the CEO is supposed to do that anyway as a company fiduciary. Companies also argue that they cannot attract top executive talent unless they can compete with other companies offering attractive severance benefits, especially in industries where mergers are common.